Youdao (NYSE:DAO) Shares Up 6.6% – Time to Buy?

Youdao, Inc. (NYSE:DAO) shares rose 6.6% during mid-day trading on Tuesday . The company traded as high as $6.66 and last traded at $6.66. Approximately 113,367 shares were traded during trading, a decline of 3% from the average daily volume of 116,763 shares. The stock had previously closed at $6.25.

Youdao Stock Up 6.6 %

The firm’s fifty day moving average price is $4.99 and its 200 day moving average price is $4.05. The stock has a market cap of $805.33 million, a PE ratio of 89.29 and a beta of 0.03.

Institutional Trading of Youdao

Several institutional investors and hedge funds have recently modified their holdings of DAO. Acadian Asset Management LLC boosted its holdings in Youdao by 98.4% in the second quarter. Acadian Asset Management LLC now owns 238,445 shares of the company’s stock valued at $928,000 after purchasing an additional 118,245 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Youdao by 6.7% during the second quarter. Renaissance Technologies LLC now owns 52,300 shares of the company’s stock worth $205,000 after buying an additional 3,300 shares during the last quarter. Finally, Symmetry Peak Management LLC acquired a new stake in shares of Youdao in the 3rd quarter worth $102,000. Institutional investors own 21.91% of the company’s stock.

Youdao Company Profile

Youdao, Inc, an internet technology company, provides online services in the field of content, community, communication, and commerce in China. It operates through three segments: Learning Services, Smart Devices, and Online Marketing Services. The company provides various learning content, applications, and solutions, which cover topics and target people from various age groups for their learning needs through its websites and mobile applications.